Jurris.COM
Section 1196 Of Article 4. Property Authorized For Excess Funds Investments From California Insurance Code >> Division 1. >> Part 2. >> Chapter 2. >> Article 4.
1196
. Excess funds investments shall not be made in any stock or
obligation unless:
(a) The stock or obligation qualifies as a sound investment.
(b) In case of a purchase, the price paid for the security is not in excess of the current market value at the date of purchase.
(c) In case of a loan, the amount loaned does not exceed eighty-five per cent of the market value, at the date of the loan, of the collateral taken as security.
(a) The stock or obligation qualifies as a sound investment.
(b) In case of a purchase, the price paid for the security is not in excess of the current market value at the date of purchase.
(c) In case of a loan, the amount loaned does not exceed eighty-five per cent of the market value, at the date of the loan, of the collateral taken as security.
